Bitcoin Nears $82,000 Amid Mixed Market Sentiment
- Bitcoin (BTC) approached $82,000 on Monday, but professional traders remain skeptical of a sustainable rally.
- The annualized funding rate for Bitcoin perpetual futures rose to 6%, indicating a shift toward neutral-to-bullish sentiment for the first time in over a month.
- Outflows from US-listed Bitcoin spot ETFs contributed to bearish market sentiment as Bitcoin struggled to maintain its price above $82,000.
- Bitcoin’s hashrate increased by 5% over two weeks, reaching approximately 970 exahashes per second despite fears of miners pivoting to AI.
- Strategy (MSTR US) purchased $43 million in Bitcoin funded by selling company shares, signaling continued institutional interest.
Despite the rise in Bitcoin’s funding rates and miner activity, concerns linger due to ETF outflows and geopolitical tensions affecting market stability. The mixed signals suggest that while bullish momentum is possible, caution prevails among traders.
With Bitcoin remaining approximately $85,000 below its all-time high, the recent purchase by Strategy highlights ongoing institutional interest even amid market uncertainty. (Source)
